Mistakes in trading that lead to loss of money

[FaucetRank.com]

This is  very good thread for newbie traders because here in thread lot of things can be learned from other traders experience after reading this thread I feel more motivated for trading coins.

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[coinplus]

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

to me the worst mistake in trading can be that if you invest your bitcoin in such coin about which you have no knowledge at all. because investing in altcoin without a sound knowledge is nothing but wasting your money and time.

I don’t understand why people are actually interested in altcoin.

I mean you have the bitcoin which has a very fast rising values so you are guaranteed to earn if you invest in it, but altcoins they go down more that they go up, sure that one day they maybe worth buying when bitcoin is really high but at the moment are worthless.

[Monnt]

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

Yeah and usually they get carried away by the hype and propaganda created by some alt coins and they just invest too much in ICO. The problem with the ICOs now days is that the coins never actually intend to get listed on exchanges also, they just want a big ICO and then scam.

Unfortunately this is a type of mistake may happen in pre-trading stage itself. Yes, choosing right investments is very important to avoid big mistakes.

[equator]

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

Yeah and usually they get carried away by the hype and propaganda created by some alt coins and they just invest too much in ICO. The problem with the ICOs now days is that the coins never actually intend to get listed on exchanges also, they just want a big ICO and then scam.

Unfortunately this is a type of mistake in pre-trading stage itself. Yes, choosing right investments is very important to avoid big mistakes.

What you are saying is correct and even if the ICO gets listed in Exchange ,the bounty hunters will start to dump and the price of that coins goes down below ICO price so it is totally waste to invest in the ICO even if the coin is with good fundamentals. It is better to buy it when they get listed.

[BitWhale]

My biggest hurdle as a trader was learning to trust myself & analysis. At first, I had a really bad habit of always looking up the stock/coin/currency/commodity i was about to trade and read what all of the "big boys" had to say about it. All it does is confuse you, you will always find 1 person arguing in your favor, as well as 2 arguing against it.

This caused me to rethink my original analysis many times and either not take a trade or get out of one early when I was right in the first place. It was always painful to be correctly positioned but close out early due to some media source saying "ITZ DA END OF DA WORLD... PANIC RIGHT NAO" and watching the trade move in my favor for months to come...

Now, I trade with my own advice only. I DO NOT pay attention to analyst views & opinion. If I watch Bloomberg, it's on mute and the only thing I'm paying attention to is the numbers, the prices, the volumes.... The cold hard facts. Leave the opinions checked at the door.

I've learned that the media/main stream is often wrong, and that I must trust myself, as I am the only one I can trust to give me truthful advice that isn't rigged against me. I am the only one that has my goals & objectives in mind.

Now I utilize the "big 5" data types (Price, Volume, Volatility, Sentiment, & Momentum) for analysis and only use weekly charts with as long term data as possible. I do not day trade, I feel it's a fallacy. The only profitable day trader I've seen is Meir Barak (whom is a gap trader)... regardless I'm in it for the big moves, I feel you have the most amount of reaction time and the most amount of data (because you can literally watch for months before deciding it's time to palce a trade) doing long term trading and so this has always been my avenue.

[iram3130]

The fear of Losing is the biggest mistake I have done as a newbie. Although am not a newbie now but it's still a fear I get into my head sometimes, People think that it's nothing but understand that fear will make u do big mistakes sometimes.

[gabmen]

Well most of the time it's failing to sell at the right time. There are several times I've missed selling coins while the price is still respectable and then ended up selling then at a price way below the purchase rate. For example, just a couple of months ago I purchased a coin for 0.00002100, I had the inkling to sell it when the price went up to 0.00002500 but I hesitated thinking it may still go up so I held on to it. It's now priced at 0.00000600 so I'm not sure what to do if I should just gamble with it or keep it and hope the price goes up or just sell it at roughly a third of the price I purchased it for.

[housebtc]

Over trading is really an issue for me not knowing when to quit. This is as a result of greed and indiscipline

[upsidedown75]

I also made a big mistake in the time when I was starting the trade. In one of the post on this forum I saw someone recommending to buy cheap coins to take the start so I searched for the coins and found a coin at 1 satoshi and bought with a good amount of bitcoins and waited for longer but not increased then after a search about the coin I fund that the coin is died some months ago.

Any coins being traded at 1 satoshi means it has been dumped and no buyers are there for back it.

Basically a coin getting sold at 1 satoshi can never get up at all, being new its fine to get hopeful but anyways I guess now you have understood you lesson.

Another pro tip is that never trust a coin just because the owner pretends the ICO was big.

[BitFinnese]

I also made a big mistake in the time when I was starting the trade. In one of the post on this forum I saw someone recommending to buy cheap coins to take the start so I searched for the coins and found a coin at 1 satoshi and bought with a good amount of bitcoins and waited for longer but not increased then after a search about the coin I fund that the coin is died some months ago.

Any coins being traded at 1 satoshi means it has been dumped and no buyers are there for back it.

Basically a coin getting sold at 1 satoshi can never get up at all, being new its fine to get hopeful but anyways I guess now you have understood you lesson.

Another pro tip is that never trust a coin just because the owner pretends the ICO was big.

There are some coins that were sold at 1 satoshi that had everything sort out and raised the price more than 100,000%.  I can name some.  I believe as long as there are developers behind the coin, there is always a possibility for that coin to uptrend in price.  Those who never get out of that 1 satoshi is probably trading good in litoshi ranges

[voztata]

Common mistakes in trading is mostly on newbies on which they jump in into trading without any proper knowledge because we all know that most people are saying that trading is the best investments and could able to make decent money thats why they decide to trade without knowing the important things and they just easily blown up their account or bank roll.

Mistakes can also be occurred from experienced people and not one from newbie. But I think your lost depend on the nature of mistake, if you make a big mistake that can lead you a big lost but if you make a common minor mistake the your lost will also not affect you too much.

[john2231]

I also made a big mistake in the time when I was starting the trade. In one of the post on this forum I saw someone recommending to buy cheap coins to take the start so I searched for the coins and found a coin at 1 satoshi and bought with a good amount of bitcoins and waited for longer but not increased then after a search about the coin I fund that the coin is died some months ago.

Any coins being traded at 1 satoshi means it has been dumped and no buyers are there for back it.

Basically a coin getting sold at 1 satoshi can never get up at all, being new its fine to get hopeful but anyways I guess now you have understood you lesson.

Another pro tip is that never trust a coin just because the owner pretends the ICO was big.

There are some coins that were sold at 1 satoshi that had everything sort out and raised the price more than 100,000%.  I can name some.  I believe as long as there are developers behind the coin, there is always a possibility for that coin to uptrend in price.  Those who never get out of that 1 satoshi is probably trading good in litoshi ranges

Not all from 1 sat can be uptrend or increase the price again.. it is honestly hard to rebump the price because other people are trying to sell their all altcoin that can hardly buy almost all unless if there is already other people are supporting that altcoin that can push and buy those in the sell wall..
for other altcoin if there is still active developers like you said there is still a chance that those altcoin can be bump up again..

[serjent05]

Not all from 1 sat can be uptrend or increase the price again.. it is honestly hard to rebump the price because other people are trying to sell their all altcoin that can hardly buy almost all unless if there is already other people are supporting that altcoin that can push and buy those in the sell wall..
for other altcoin if there is still active developers like you said there is still a chance that those altcoin can be bump up again..

Don't you know that it is easier to uptrend a lower price than the higher price?  Especially in cases where a coin is at 1 satoshi and the amount circulating is just a mere millions of coins?    Development and usage of the coin is one factor but the the fastest is the pumping of the coin by dev once there is a solid development that is about to be released.  Sad but this thing always happen.

[ubitcoin]

If you are up a lot, then cash out.

The worst mistake you can make especially with altcoin trading is to baghold a coin for years on end, in my opinion. That is ridiculously dumb because altcoins all die out, new altcoins come out every day that have better specs then before. None of them however have an established reputation as a functioning cryptocurrency, something that in my opinion only bitcoin has.

to me the worst mistake in trading can be that if you invest your bitcoin in such coin about which you have no knowledge at all. because investing in altcoin without a sound knowledge is nothing but wasting your money and time.

Quite true and the most common problem with me when I was new was that I used to trust the new coins too quickly. Moreover I never used to check whats the team behind a coin and what are their plans. Anyways now I am a successful trader and pick some immaculate coins.

[BitcoinPanther]

Too much patience can ruin our timing and the possible profit.  I have lost some profit because of not selling at the right time.  You can call that being greedy because of assuming that if I hold longer it will increase in price, I am talking about altcoin trading.  So I guess the best thing is to sell when profit is seen.

[Yuuto]

Too much patience can ruin our timing and the possible profit.  I have lost some profit because of not selling at the right time.  You can call that being greedy because of assuming that if I hold longer it will increase in price, I am talking about altcoin trading.  So I guess the best thing is to sell when profit is seen.

Yeah, I think everyone have had the moment before where you go just let it crash a few sats more and then I'll buy in this altcoin as it bottoms, but then it absolutely goes nuts before you have the chance to buy.

You are left there, dumfounded, as you watch the markets take off without you.

It's all about timing, trading.

[Botnake]

When I was new, I started trading with altcoins and I do not make enough research as I only follow the rules which is to buy low and sell high. Now, I realize that this crypto trading requires me to be updated of the news of a specific asset I am trading, truly you will mature eventually.

[sydriq]

My main problem so far was greed . In some cases ( like NAUT ) i trippled my money and yet didn't sell untill small profit . So far i'm doing great , have trippled my bankroll in some months . If i can solve the greed problem though my graph will skyrocket .

This was me a while ago and I ended up making less than I should have made if I had bought whilst waiting for the price to depreciate more.

[wuvdoll]

Your mistake/s in trading that leads to loss of money
I think it will be the best to share your story so that we can avoid your past mistakes.

Okay let me tell you my bad experience in the past. Some months ago i am trading and have opportunity to get a profit with few coin in exchanger. After that i see that ethereum is huge balance it means many people invest their money into it, i bought eth with almost all of my btc and wait the price goes up but suddenly 3 or 4 days after that the price goes down deeply more than 50 % . I shocked and i keep believe  that the price is growing up again soon. This is my fault. The correct actions I should sell my balance as soon as possible while saw the price down. It is called cutloss in trading.

Yeah actually when you usually see a sudden price decrease like 50% then it will better to sell at least 25% coins you are holding with yourself. While sell 25% once the actual price is reached and the rest 50% keep if the coin live up to expectations. Also you may buy back when you bet better prices.

[X-ray]

When I was new, I started trading with altcoins and I do not make enough research as I only follow the rules which is to buy low and sell high. Now, I realize that this crypto trading requires me to be updated of the news of a specific asset I am trading, truly you will mature eventually.

Sometimes a new update from developer of the following altcoins really matter to what happen to the price in the future so that's why keeping you updated into the latest news would be an additional point to make your trading success but without it you can still make a profit by being aware with the circumstances and got some ton of luckyness